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Buck's 24-Story Complex Could Fetch $100M

EVANSTON, IL-The Park Evanston, developed by the John Buck Co., has 283 units that are 99% leased, and 39,000 sf of retail space that is fully leased.

By Gina Kenny | Updated on September 30, 2007

(Read more on the multifamily market.)

EVANSTON, IL-The John Buck Co., based in Chicago, is selling the Park Evanston, a 283-unit apartment building at 1630 Chicago Ave. The property is being marketed on a free-and-clear basis.

The Chicago office of Holliday Fenoglio Fowler LP has been hired to market the property. The 24-story building in Downtown Evanston is being marketed without a sales price but is expected to fetch $100 million, confirmed Matthew Lawton, senior managing director at HFF. “We think that the $100 million is certainly something that is not above replacement value where it would be today,” he says. Lawton, in addition to HFF directors Marty O’Connell, Sean Fogarty and Janice Sellis, will lead the investment sales team. “There is going to be a lot of capital pursuing the asset. It is your classic urban infill, transit oriented, well-located asset,” Lawton says.

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